Reliance Securities: Minda Industries’ Multiple Growth Drivers Justify Premium Valuation
An employee performs a quality check on an engine part. (Photographer: Muhammad Fadli/Bloomberg)  

Reliance Securities: Minda Industries’ Multiple Growth Drivers Justify Premium Valuation

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Reliance Securities Report

Minda Industries Ltd. is well-diversified auto ancillary company in Indian auto component space with strong presence in lighting, switching, horn and lightweight products segments for domestic as well as global original equipment manufacturers.

The company enjoys leadership in four-wheeler and two-wheeler switches segment with 55% and 65% market share, respectively.

It is also the leader in domestic horn segment with approximately 47% market share, while it has decent presence in lighting segment with approximately 22% market share.

Click on the attachment to read the full report:

Reliance Securities Minda Industries Initiating Coverage.pdf

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